LONDON/NEW YORK (dpa-AFX) – The European telecoms sector weakened on Tuesday due to looming regulatory hurdles for British telecom companies. The Stoxx Europe 600 Telecommunications industry index, which had recovered by almost ten percent since the end of November, recently lost 0.6 percent and was thus at the bottom of the European sector table.
Among the individual stocks, the price losers were led by the shares of the BT Group and Vodafone (Vodafone Group), which lost 3.4 and 1.1 percent in value respectively.
The British regulator Ofcom wants to prohibit mobile and broadband providers active there from increasing prices for customers during the contract period based on inflation data. Ofcom demanded that companies commit to a fixed service fee and specify future price increases when concluding the contract. Currently, it is common practice among operators to adjust prices annually based on the consumer price index./edh/tih/mis
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